Coca-Cola Icecek (CCI) said on Tuesday it was withdrawing its interest in bidding for SABMiller’s former stake in Coca-Cola Beverages Africa (CCBA).
The Turkey-based firm, which is the fifth largest Coke bottler in the world, with operations in 10 Middle Eastern countries and employs 10,000 people, said that it has completed a “comprehensive evaluation into buying the 54% stake from The Coca-Cola Company (TCCC).
Coca-Cola Icecek (CCI), the fifth largest bottler of Coca-Cola products in the world has expressed interest in acquiring SABMiller’s stake in Coca-Cola Beverages Africa (CCBA).
In a statement released by the company on Monday, it said: “Coca-Cola Icecek A.S. (CCI) has decided to engage with investment banks to evaluate any potential alternatives in relation to The Coca-Cola Company (“TCCC”) announced intention to sell this stake to strategic partner. Any further developments on this will be separately announced going forward.”
